EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,259 shares of the real estate investment trust’s stock after acquiring an additional 172 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in EastGroup Properties were worth $1,883,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC increased its position in shares of EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of EastGroup Properties during the 4th quarter worth $37,000. Tucker Asset Management LLC bought a new stake in shares of EastGroup Properties during the 3rd quarter worth $44,000. Baker Avenue Asset Management LP boosted its stake in shares of EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 72 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EastGroup Properties by 68.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 494 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 200 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

EGP opened at $157.75 on Thursday. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.63 and a beta of 0.93. EastGroup Properties, Inc. has a 1 year low of $154.75 and a 1 year high of $188.85. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $176.44 and a 200 day moving average price of $175.37.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 3.22%. EastGroup Properties’s dividend payout ratio (DPR) is currently 110.20%.

Analyst Ratings Changes

Several research firms have recently weighed in on EGP. KeyCorp raised their price objective on EastGroup Properties from $188.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Mizuho reissued a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a research note on Tuesday, April 2nd. BMO Capital Markets began coverage on EastGroup Properties in a research report on Monday. They issued an “outperform” rating and a $190.00 target price for the company. Barclays began coverage on EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 target price for the company. Finally, JPMorgan Chase & Co. began coverage on EastGroup Properties in a research report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $188.47.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.